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Tupper Lake village adopts budget with 9.72 tax increase

Tax rates to decrease due to assessment reval

The Tupper Lake Village Board.

The Tupper Lake Village Board. Photo by Andy Flynn.

— Tupper Lake Village Board members May 1 unanimously adopted their 2012-13 budget, exceeding the state’s mandated tax levy increase, but the tax rate is much lower due a revaluation of the town’s assessment roll.

The village was afforded the luxury of a tax levy increase due to this year’s real property assessment revaluation, which is leading to an overall tax rate decrease.

The tax levy was $1,637,668 in 2011-12. In 2012-13, the amount to be raised by taxes (tax levy) is $1,814,036.50, an increase of 9.72 percent.

That exceeds the state tax cap by 5.53 percent. While the base tax cap is 2 percent growth, the state comptroller’s office allows a 1 percent tax base growth factor, a 1 percent allowable levy growth factor and takes into consideration other factors, such as and PILOT (payment in lieu of taxes) programs.

“It’s not that simple,” said Village Clerk Mary Casagrain, referring to the 2 percent tax cap. “You’ve got to put it through that formula.”

The state’s tax levy limit was $1,680,148. But in April, Village Board members passed a local law giving themselves permission to override the tax cap.

To help offset the taxes, the village will be using $150,000 of its unused fund balance.

The general fund totals $2,539,759.50, a spending increase of 6.25 percent ($149,393) over the 2011-12 budget

The assessment roll increased from $105,347,054 in 2011-12 to $137,525,069 in 2012-13. The tax rate, however, decreased from $15.54 to $13.19 per $1,000 assessed value. That’s a drop of $2.35 per $1,000 assessed, or 17.85 percent.

Property valued at $50,000 will see a tax decrease of $117.50. Property valued at $100,000 will see a tax decrease of $235. And property valued at $150,000 will see a tax decrease of $352.50.

The 2012-13 water levy is $36,049.75 and sewer levy is 47,408.34. Last year’s figures for water and sewer totaled $81,206.40 (water, $34,630.76, and sewer, $46,575.64).

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